Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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We have two tall wicks into the resistance area, after bouncing twice from the ~3250 lows. The bleed out seems to have several examples of two wicks to the same level with a strong reversal. Indeed we have two smaller candles down to the ~3250 levels and then the bounce up, we are after our second wick up, so it seems like there would be a chance for a reversal to retrace once we retest the ~3500 levels again.
I personally would probably try to take profit at different levels on the way back down. Just an idea.
Trade closed manually
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Watching the battle to resistance I decide to close manually about $20 under where I went short. I didn't feel like the price action looked like a reversal, strong buy pressure.
Comment
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Well it seems like I mistimed the drop and the entry point. Idea entry point would have been 3600 (or 3630), and them just wait.